racketeer

[rak-i-teer]
noun
1.
a person engaged in a racket.
verb (used without object)
2.
to engage in a racket.

Origin:
1925–30, Americanism; racket1 + -eer

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World English Dictionary
racketeer (ˌrækɪˈtɪə)
 
n
1.  a person engaged in illegal enterprises for profit
 
vb
2.  (intr) to operate a racket
 
racke'teering
 
n

Collins English Dictionary - Complete & Unabridged 10th Edition
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Example sentences
The decision will be made if prosecutors file charges in connection with the bank's illicit lending to a racketeer.
She then moves into an apartment owned by a racketeer.
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